ECONOMICS PRINCIPLES ARE TIMELESS: AN APPLICATION TO THE U.S. CIVIL WAR.

Applications are often useful to economic educators. For example, one economic focus is inflation. Both North and South switched from gold to paper money during the Civil War. This became a problem for both sides -- but more for the South -- when the quantity of paper money was expanded. There was simply too much money chasing too few goods, which resulted in inflation. Inflation and several other economic principles will be explored in this context. [ABSTRACT FROM AUTHOR]